(a) A dealer must keep all records and receipts required by this section at the business location for a minimum of 1 year from the date of the latest recorded transaction.
(b) A dealer must keep an electronic record, in English, of each purchase or receipt by or on behalf of the dealer at the time of the transaction. Each transaction must be recorded in an electronic format specified by regulation under method (3), which contains the following information:
(1) The name, date of birth, address, race, sex, physical description, and signature of the person selling the item;
(2) The driver's license number or similar proof of identification of the person selling the item;
(3) The date and time of the transaction;
(4) The identification, including signature, of the person making the record entry;
(5) A full physical description of each item purchased or received by the dealer, including but not limited to, shape, size, color, and a list of all numbers, marks, monograms, trademarks, manufacturer's names, serial numbers, inscriptions and any other marks of identification appearing on the item; and
(6) The consideration paid for each item or set of items.
(c) A dealer must give the Police:
(1) electronic notice of each transaction within 24 hours after the transaction; and
(2) a copy of the written record of each transaction required in subsection (b) within 7 days after the transaction. (1981 L.M.C., ch. 27, § 1; 1983 L.M.C., ch. 28, § 1; 1984 L.M.C., ch. 24, § 45A; 1984 L.M.C., ch. 27, § 29; 2009 L.M.C., ch. 6, § 1.)